Endoscopy Devices Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Market Overview

The Endoscopy Devices Market is poised to grow at a CAGR of 6.5% during the study period, 2022-2027.

The COVID-19 pandemic led to disruption in not only the research and development activities of other therapies and drugs for medical conditions other than COVID-19 but also impacted the treatment procedures and supply chain of the medical devices around the world which also impacted the studied market of endoscopy devices. According to the article "Guidelines for Robotic Flexible Endoscopy at the Time of COVID-19," published in February 2021, due to the COVID-19 pandemic, endoscopic procedures were significantly reduced to acute, urgent cases. In addition, endoscopic procedures currently rely on patient protective equipment, comprehensive room, equipment cleaning, and air circulation, which varies from endoscopy suites, thus impacting the studied market during the COVID-19 pandemic. 

Moreover, due to the current COVID pandemic, robotic-assisted flexible endoscopy intends to improve the patient's exam tolerance because, with robotic assistance, the physician can manipulate the flexible endoscope within a certain distance, thus reducing the chances of causing infection. According to the article, "Technology Can Make Endoscopy Safer," published in October 2020, a combination of new technologies, such as robotics and computer vision, can help improve the situation of colorectal cancer, the third most common malignancy globally. The robotic flexible endoscopic system can be used for endoscopic applications where navigation in unstructured environments requires bronchoscopy, pancreatic endoscopy, and gastroscopy as these diseases need urgent treatment during the COVID pandemic. Thus, above-mentioned factors indicate that the studied market had signiifcant impact on the studied market.

The growing preference for minimally-invasive surgeries, increasing adoption of endoscopes for treatment and diagnosis, and technological advancements leading to enhanced applications are the major factors leading to the growth of the market studied. 

Minimally invasive surgeries (MIS) cause less post-operative pain, and hence, patients receive smaller dosages of pain killers. As there are minimal cuts or stiches involved, the hospital stay is relatively shorter, and patients need not visit the hospital frequently. Currently, people are showing interest toward the minimally invasive procedures rather than opting for traditional open surgeries that involve long incisions made through the muscles, and these muscles take a considerable amount of time to heal. Minimally invasive surgeries (MIS) involve smaller incisions, leading to quicker recovery. In addition, the body scars involved in minimally invasive surgeries (MIS) are barely noticeable. The main advantage of minimally invasive surgeries (MIS) over the traditional open surgeries is higher precision due to video-assisted equipment, which produces a better and magnified image of the organs or body parts being operated. These surgeries are gaining wider acceptance among the geriatric population, due to the relatively shorter recovery time.  

According to the article "Anatomic Study of Endoscopic Transnasal Approach to Petrous Apex," published in January 2020, endoscopy systems are commonly used in minimally invasive surgeries to find the cause of specific issues and symptoms. Traditionally, most of the space difficult to observe by microscope can be exposed through endoscopic assisted technology. Endoscopy can flexibly change the angle and observe the surrounding anatomical structure through the natural human foramen. It can provide the surgeon with an unobstructed visual field and an operation channel without retraction, which significantly improves the quality of surgery. Thus flexible endoscopy systems are mostly preferred by surgeons.

Thus, owing to the above-mentioned factors, the endoscopy devices market is expected to show significant growth over the forecast period, globally. However, the lack of skilled technicians and infections caused by few endoscopes is hindering the market growth.

Scope of the Report

Endoscopes are minimally-invasive devices and can be inserted into natural openings of the body, to observe an internal organ or a tissue in detail. Endoscopic surgeries are performed for imaging procedures and minor surgeries. 

The Endoscopy Devices Market is segmented by Type of Device (Endoscopes, Endoscopic Operative Device, and Visualization Equipment), Application (Gastroenterology, Pulmonology, Orthopedic Surgery, Cardiology, ENT Surgery, Gynecology, Neurology, and Other Applications), and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 different countries across major regions, globally. The report offers the value (in USD million) for the above segments.

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Key Market Trends

The Gastroenterology Segment is Expected to Show Better Growth in the Forecast Period

Gastrointestinal endoscopy is a type of endoscopic procedure that permits physicians to examine the digestive system by inserting a long, flexible lighted instrument called an endoscope either through the rectum or down through the throat. These gastrointestinal endoscopy procedures may be performed to evaluate and treat disorders of the esophagus, stomach, small intestine, colon, pancreas, and bile ducts.

The main factors driving the growth of the gastroenterology segment are due to the rising incidence of gastrointestinal diseases in the young, adult, and geriatric groups, worldwide. Dyspepsia, irritable bowel syndrome and constipation are some examples of gastrointestinal disorders. Furthermore, gastroesophageal reflux disease is a prevalent form of organic gastrointestinal disorder. The increasing burden of gastrointestinal diseases, coupled with the growing geriatric population, is driving the demand for gastrointestinal endoscopy.

Gastrointestinal tumors are the second-largest cause of cancer-related deaths worldwide. Endoscopy has proved to be the standard for the diagnosis of gastrointestinal cancers. Thus, an increase in endoscopic procedures for early diagnosis of gastrointestinal cancers is expected to boost the market in the coming years. The majority of gastrointestinal stromal tumors usually start in the rectum, colon, and esophagus. Most people diagnosed with a gastrointestinal stromal tumor are over 50 years of age. the rising prevlance of these tumors will drive the market. As per the American Cancer Society (ACS) in 2022, there will be an estimated 106,180 new cases of colon cancer and 44,850 new cases of rectal cancer in the United States. According to ACS, overall, the lifetime risk of developing colorectal cancer is about 1 in 23 (4.3%) for men and 1 in 25 (4.0%) for women. As per the World Health Organization (WHO), in 2020 there were around 1.93 million cases of colon and rectum cancer.

Moreover, the rising product approval in the segment will also contribute to the market growth. For instance, in February 2022, Ambu recieved the 510(k) regulatory clearance form United States Food and Drug Administration of the Ambu aScope Gastro and Ambu aBox 2 in the United States . aScope Gastro is Ambu’s first sterile single-use gastroscope and includes new advanced imaging and design features in a combined solution with next-generation display and processor technology.

Thus, owing to the above-mentioned factors, the segment is expected to show significant growth over the forecast period.

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